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Industry Inefficiency, Monopoly and Import Liberalization in New Zealand — An Assessment of the Static Welfare Effects

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  • M. PICKFORD

Abstract

A monopoly industry trade model embodying various assumptions is used to estimate the static, partial, welfare effects of the New Zealand import liberalization policy introduced in 1984. Import licences for products competitive with domestic manufactures are being expanded, causing tendered premiums to fall until tariffs assume the protective role. The resulting price falls are estimated to produce an aggregate welfare gain of 0.28 per cent of GDP, and to generate large distributional effects.

Suggested Citation

  • M. Pickford, 1987. "Industry Inefficiency, Monopoly and Import Liberalization in New Zealand — An Assessment of the Static Welfare Effects," The Economic Record, The Economic Society of Australia, vol. 63(2), pages 162-174, June.
    • Handle: RePEc:bla:ecorec:v:63:y:1987:i:2:p:162-174
    DOI: 10.1111/j.1475-4932.1987.tb00648.x
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    References listed on IDEAS

    as
    1. Pickford, M., 1985. "A new test for manufacturing industry efficiency : An analysis of the results of import licence tendering in New Zealand," International Journal of Industrial Organization, Elsevier, vol. 3(2), pages 153-177, June.
    2. Richard A. Posner, 1975. "The Social Costs of Monopoly and Regulation," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 45-65, Springer.
    3. Shoven, John B & Whalley, John, 1984. "Applied General-Equilibrium Models of Taxation and International Trade: An Introduction and Survey," Journal of Economic Literature, American Economic Association, vol. 22(3), pages 1007-1051, September.
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